Stay away from the Bitcoin multiplier scam

It is well known that hot commodities tend to attract scammers and online criminals. The continuous rise of Bitcoin over the past year (valued at over USD $7,188 at the time of writing) is generating frenzy amongst fans of cryptocurrencies as well as those watching from the sidelines.

While the threat of Bitcoin theft from hackers or rogue operators remains high, we also see many scams inspired by the classic Ponzi scheme. Such is the case of the Bitcoin multiplier scheme, where victims are enticed to send some of their Bitcoin to a particular wallet and be given x times the amount they invested.

There are a few different ways users are drawn to this scam. One of them is searching online for sites that offer such a service (and you can find many). Some people are even asking the million dollar question: “Is there any genuine Bitcoin multiplier?” which scammers immediately pounce on and use for Search Engine Optimization (SEO) purposes.

Source: Malwarebytes Labs